[3] The vessel was approved for 'unrestricted ocean operations' and designed to withstand extremely harsh conditions at sea, including 100-knot (190 km/h) winds and 110-foot (34 m) waves.

On 14 February 1982, the platforms received reports of an approaching storm linked to a major Atlantic cyclone from NORDCO Ltd, the company responsible for issuing offshore weather forecasts.

Due to surface difficulties and the speed at which the storm developed, the crew of Ocean Ranger was forced to shear the drill pipe after hanging-off, after which they disconnected the riser in the early evening.

[4] At about 19:00 local time, the nearby Sedco 706 experienced a large rogue wave which damaged some items on deck and caused the loss of a life raft.

Soon after, radio transmissions were heard from Ocean Ranger, describing a broken portlight (a porthole window) and water in the ballast control room, with discussions on how best to repair the damage.

Through the remainder of the evening, routine radio traffic passed between Ocean Ranger, its neighboring rigs and their individual support boats.

[5] At 00:52 local time, on 15 February, a mayday call was sent out from Ocean Ranger, noting a severe list to the port side of the rig and requesting immediate assistance.

[citation needed] In related activity the following day, the Soviet container ship Mekhanik Tarasov was struck by the same weather conditions as Ocean Ranger, approximately 65 miles (105 km) to the east.

[7][8][9] The remains of the platform were found by sonar search over the following weeks, resting in an inverted position approximately 485 feet (148 m) south-east of the wellhead, surrounded by major items of debris such as the derrick.

The United States Coast Guard Marine Board of Investigation report on the disaster summarised the chain of events as follows:[10]

The Royal Commission concluded that Ocean Ranger had design and construction flaws, particularly in the ballast control room, and that the crew lacked proper safety training, survival suits and equipment.

In August 1983, the wreck of Ocean Ranger was refloated and sunk in deeper waters by the Dutch firm Wijsmuller Salvage.

[20] In fiction, Canadian author Lisa Moore's novel, February (2009), depicts the life of a woman whose husband died aboard the oil rig.

[21] Canadian folk singer-songwriter Ron Hynes wrote a song called "Atlantic Blue" (1988) as a tribute to the crew of Ocean Ranger.

The book's author, Susan Dodd, lost her older brother Jim with the sinking of the Ocean Ranger and watched, for years, as her parents pursued legal struggles with the oil companies.